19 December 2008 16:48

Closing for the acqusition of the Isola d’Asti Shopping Center signed

IGD SIIQ S.p.A., a retail real estate firm listed in the STAR segment of the Milan Stock Exchange,  has signed the closing agreement for the acquisition of the Isola D’Asti Shopping Center.

The acquisition, which closed today, relates to the newco Nikefin Asti srl that is developing the Isola D’Asti Shopping Center which is expected to open mid-2009.

IGD SIIQ S.p.A. paid €8.72 million for the company and the property is valued at € 42.2 million. The company has a long term loan of €30.0 million.

The Shopping Center, next to the A33 motorway near the Isola D’Asti exit,  was designed in accordance with low environmental impact standards. The structure, which consists of 26 points of sale, 4 medium-sized spaces, an Il Gigante hypermarket and a retail park, spreads out horizontally over a total area with a GLA of approximately 18,000 square meters.